Acutaas Chemicals Ltd
Ami Organics Limited is one of the leading research and development-driven manufacturers of specialty chemicals. The company manufactures different types of Advanced Pharmaceutical Intermediates and Active Pharmaceutical Ingredients (API) for New Chemical Entities, and materials for agrochemicals and fine chemicals.[1]
- Market Cap ₹ 17,246 Cr.
- Current Price ₹ 2,106
- High / Low ₹ 2,170 / 930
- Stock P/E 60.1
- Book Value ₹ 173
- Dividend Yield 0.07 %
- ROCE 19.9 %
- ROE 16.0 %
- Face Value ₹ 5.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company is expected to give good quarter
- Company has delivered good profit growth of 41.4% CAGR over last 5 years
Cons
- Stock is trading at 12.2 times its book value
- Company has a low return on equity of 13.8% over last 3 years.
- Promoter holding has decreased over last 3 years: -6.75%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| 160 | 188 | 239 | 240 | 341 | 520 | 617 | 717 | 1,007 | 1,215 | |
| 137 | 157 | 196 | 198 | 260 | 415 | 493 | 589 | 775 | 833 | |
| Operating Profit | 23 | 31 | 42 | 42 | 80 | 105 | 123 | 128 | 232 | 382 |
| OPM % | 14% | 16% | 18% | 17% | 24% | 20% | 20% | 18% | 23% | 31% |
| 0 | 3 | 0 | 2 | 1 | 3 | 4 | -25 | 17 | 36 | |
| Interest | 3 | 3 | 5 | 6 | 6 | 6 | 2 | 6 | 6 | 3 |
| Depreciation | 1 | 2 | 3 | 4 | 4 | 10 | 12 | 16 | 27 | 34 |
| Profit before tax | 19 | 28 | 35 | 35 | 72 | 91 | 112 | 82 | 216 | 382 |
| Tax % | 35% | 35% | 34% | 21% | 25% | 21% | 26% | 41% | 26% | |
| 12 | 18 | 23 | 27 | 54 | 72 | 83 | 49 | 160 | 285 | |
| EPS in Rs | 40.17 | 61.67 | 11.10 | 13.08 | 8.57 | 9.87 | 11.43 | 5.80 | 19.38 | 35.05 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 15% | 13% | 26% | 8% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 33% |
| 3 Years: | 25% |
| TTM: | 32% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 41% |
| 3 Years: | 30% |
| TTM: | 136% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 66% |
| 1 Year: | 88% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 16% |
| 3 Years: | 14% |
| Last Year: | 16% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 10 | 10 | 32 | 36 | 36 | 37 | 41 | 41 |
| Reserves | 37 | 56 | 72 | 101 | 135 | 486 | 558 | 637 | 1,269 | 1,373 |
| 27 | 44 | 54 | 59 | 137 | 1 | 4 | 217 | 13 | 8 | |
| 43 | 54 | 77 | 61 | 110 | 136 | 169 | 205 | 227 | 274 | |
| Total Liabilities | 109 | 155 | 213 | 232 | 413 | 659 | 767 | 1,096 | 1,549 | 1,696 |
| 28 | 32 | 79 | 85 | 186 | 205 | 259 | 427 | 570 | 700 | |
| CWIP | 11 | 30 | 2 | 12 | 0 | 3 | 30 | 125 | 130 | 152 |
| Investments | 1 | 3 | 2 | 2 | 1 | 2 | 2 | 0 | 0 | 0 |
| 68 | 91 | 131 | 133 | 225 | 450 | 477 | 543 | 848 | 843 | |
| Total Assets | 109 | 155 | 213 | 232 | 413 | 659 | 767 | 1,096 | 1,549 | 1,696 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| 29 | 8 | 15 | 27 | 27 | -12 | 66 | 125 | 118 | |
| -19 | -25 | -21 | -24 | -100 | -121 | -33 | -365 | -224 | |
| -7 | 15 | 6 | 0 | 72 | 140 | -12 | 239 | 261 | |
| Net Cash Flow | 3 | -2 | -0 | 3 | -1 | 8 | 20 | -1 | 156 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 83 | 97 | 116 | 86 | 129 | 115 | 136 | 105 | 105 |
| Inventory Days | 76 | 89 | 95 | 148 | 123 | 150 | 131 | 139 | 119 |
| Days Payable | 148 | 154 | 168 | 146 | 172 | 158 | 157 | 119 | 103 |
| Cash Conversion Cycle | 11 | 31 | 43 | 88 | 80 | 107 | 111 | 125 | 121 |
| Working Capital Days | 46 | 64 | 28 | 34 | 51 | 141 | 139 | 79 | 123 |
| ROCE % | 38% | 34% | 27% | 33% | 24% | 21% | 16% | 20% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
17 Feb - Investor meetings on Feb 21 (Ombkara Capital) and Feb 24 (Kotak Flagship) in Mumbai.
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Update On Acquisition
11 Feb - Acutaas subsidiary acquired 75% (300,000 shares) of Indichem Inc at KRW500 per share; plant commissioning by end-2026.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
3 Feb - Transcript of Earnings Conference Call for Q3 FY26 financial results held on January 28, 2026 is enclosed.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
30 Jan - Company to attend JM Financial India Xchange Conference in Singapore on February 5, 2026.
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General Update
30 Jan - Board approved unaudited Q3 & 9M results to Dec 31, 2025; ~Rs130.80 crore JV investment; 3,25,009 ESOS options.
Annual reports
Concalls
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Feb 2026Transcript PPT REC
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Oct 2025Transcript PPT REC
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Aug 2025Transcript PPT
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May 2025Transcript PPT REC
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Feb 2025Transcript PPT REC
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Nov 2024Transcript PPT REC
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Aug 2024Transcript PPT REC
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May 2024Transcript PPT
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May 2024TranscriptAI SummaryPPT
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Feb 2024Transcript PPT REC
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Nov 2023Transcript PPT REC
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Aug 2023Transcript PPT
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May 2023Transcript PPT
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Feb 2023TranscriptPPT
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Feb 2023Transcript PPT
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Nov 2022Transcript PPT
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Aug 2022Transcript PPT
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Aug 2022TranscriptAI SummaryPPT
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May 2022Transcript PPT
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Feb 2022Transcript PPT
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Oct 2021Transcript PPT
Business Overview
AMI Organics manufactures specialty chemicals with varied end usage, and is focused on development and manufacturing of advanced pharmaceutical intermediates for regulated and generic APIs and New Chemical Entities (NCE), and key starting materials for agrochemical and fine chemicals. [1]